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South Carolina Powerball Jackpot Annuity Payout Schedule for Nov 28, 2022

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The tax information provided here is based on 2025 federal marginal rates and state tax rates.  It shows the final federal and state tax burdens each year, not the amount initially withheld by the lottery.

The Powerball annuity jackpot is awarded according to an annually-increasing rate schedule, which increases the amount of the annuity payment every year.  The table below shows the payout schedule for a jackpot of $54,800,000 for a ticket purchased in South Carolina, including taxes withheld.

Please note, the amounts shown are very close approximations to the amount a jackpot annuity winner would receive from the lottery every year.  They are not intended to specify the exact final tax burden, which may vary depending on how the winner chooses to invest or dispense their money, as well as deductions claimed.

State:

South Carolina

Drawing Date:Mon, Nov 28, 2022
Jackpot:$54,800,000
Federal Tax:37% marginal rate
State Tax: 6.2%
Report:Powerball annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$824,819$262,203$51,139$511,477
2$866,060$277,462$53,696$534,902
3$909,363$293,484$56,380$559,498
4$954,831$310,308$59,200$585,324
5$1,002,572$327,972$62,159$612,441
6$1,052,701$346,520$65,267$640,914
7$1,105,336$365,995$68,531$670,811
8$1,160,603$386,443$71,957$702,202
9$1,218,633$407,914$75,555$735,163
10$1,279,564$430,459$79,333$769,772
11$1,343,543$454,131$83,300$806,112
12$1,410,720$478,987$87,465$844,269
13$1,481,256$505,085$91,838$884,333
14$1,555,319$532,488$96,430$926,401
15$1,633,084$561,262$101,251$970,572
16$1,714,739$591,474$106,314$1,016,951
17$1,800,476$623,196$111,629$1,065,650
18$1,890,499$656,505$117,211$1,116,783
19$1,985,024$691,479$123,072$1,170,474
20$2,084,276$728,202$129,225$1,226,848
21$2,188,489$766,761$135,686$1,286,042
22$2,297,914$807,248$142,471$1,348,195
23$2,412,810$849,760$149,594$1,413,456
24$2,533,450$894,397$157,074$1,481,979
25$2,660,123$941,266$164,928$1,553,929
26$2,793,129$990,478$173,174$1,629,477
27$2,932,785$1,042,151$181,833$1,708,802
28$3,079,424$1,096,407$190,924$1,792,093
29$3,233,396$1,153,377$200,471$1,879,548
30$3,395,065$1,213,194$210,494$1,971,377
Total$54,800,000$18,986,608$3,397,601$32,415,795

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Note: The Net Payment total above may be a few dollars off from the total after-tax annuity amount shown on the Jackpot Analysis page because the Jackpot Analysis page shows an average annual payment, whereas we calculate an exact payment here.